Saudi Arabia‘s newly appointed energy minister said Thursday that OPEC and non-OPEC partners would consider deeper production cuts at its next full meeting.

Speaking shortly after the conclusion of the Joint Ministerial Monitoring Committee (JMMC) in Abu Dhabi, Prince Abdulaziz bin Salman said the Middle East-dominated group had a clear readiness to be responsive.

His comments come at a time when OPEC and non-OPEC partners, sometimes referred to as OPEC+, have struggled to shore up crude futures this year.

It has once again raised questions about whether the group, which consists of some of the world’s most powerful oil-producing nations, really wields that much influence over oil…